what are the economic factor of Pakistan
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Answer:
Pakistan is a developing country,[34][35][36] with a semi-industrial economy.[37][38][39] Primary export commodities include textiles, leather goods, sports goods, chemicals and carpets/rugs.[40][41]
The growth poles of Pakistan's economy are situated along the Indus River;[38][42] the diversified economies of Karachi and major urban centers in the Punjab, coexisting with lesser developed areas in other parts of the country.[38] The economy has suffered in the past from internal political disputes, a fast-growing population, and mixed levels of foreign investment.[43] Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium term.[44][45] Pakistan is currently undergoing a process of economic liberalization, including privatization of all government corporations, aimed to attract foreign investment and decrease budget deficits.[46]
As of May 2021, the Pakistani government has predicted that future growth rates will be 5%, one of the highest in South Asia].[47] According to the World Bank, poverty in Pakistan fell from 64.3% in 2002 to 2.3% in 2018. The country's improving macroeconomic position has led the Moody's Investors Service to upgrade Pakistan's debt outlook to "stable".[48]
In 2017, Pakistan's GDP in terms of purchasing power parity crossed $1 trillion.[49] By May 2019, the Pakistani rupee had undergone a year-on-year depreciation of 30% vis-a-vis the US dollar. In 2020, CPEC Phase 2 has been started, with new billion dollar agreements.